This morning, Jobless Claims were just above the consensus, while the Philadelphia Fed Index and Leading Indicators both came in at expectations. No more economic data will be released today.

Compared to Wednesday's closing, the market has opened with a 0.125 IMPROVEMENT to the Points/Credits associated with any given interest rate option.

This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Professionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back over 2 years at www.JasonGordon.info whenever desired. To make things easier, I have also posted a quick report on How To Read The Charts Below.

Also, make sure to learn THE TOP 10 THINGS TO KNOW ABOUT MORTGAGE RATES (to help understand the relationship between rates & fees/credits) along with THE TRUTH BEHIND MORTGAGE QUOTES (to better understand the relationship between up-front closing costs and mortgage interest rates so you don't get duped by clever advertising campaigns). Remember, we all make better decisions in life when we have the actual facts to analyze...share this report with those whom you care about!

The following information is current as of Thursday 8-18-2016 and will help you understand today's best mortgage rates. If you are a Buyer/Borrower who is still on the fence (or if you are a Real Estate Agent attempting to educate your "on the fence" Buyer), please review these trends and secure an historically low interest rate before it is too late.

The market closed Wednesday with an IMPROVEMENT to pricing. Wednesday's IMPROVEMENT netted a change of 18 basis points (bps).

(Note: Upward activity on these charts is GOOD, downward activity is BAD)

The following chart summarizes today's market activity:

The following chart shows market activity over the past 10 days (hint: green is good, red is bad)

The following chart shows market activity over the past 1 month:

Daily Interest Rate Snapshot (sample of rates from one of the country's largest Lenders...individual pricing will vary based on specific Borrower qualifications).

NOTE: This Lender has quoted a scenario involving a 740+ credit score, 25% down payment, owner occupied, single family residence, with impound account, with a loan amount up to $417,000 to accompany this pricing.

It bears noting that this chart does not necessarily represent today's best mortgage rates.

Fewer Americans than forecast filed applications for unemployment benefits last week, indicating the U.S. job market remains healthy. Jobless claims fell by 4,000 to 262,000 in the week ended Aug. 13, the smallest level in a month, a Labor Department report showed Thursday in Washington. The median forecast of 42 economists surveyed by Bloomberg called for 265,000. Low firings combined with continued healthy hiring will help to spur wages and boost the outlook for consumer spending, the biggest part of the economy, amid weak investment by companies. Businesses are holding on to existing employees to meet demand, while some are also facing a shortage of skilled workers. Claims continuing in this long streak of below 300,000 tells you the job market is strong, Sam Bullard, a senior economist at Wells Fargo Securities LLC in Charlotte, North Carolina, said before the report. Employers are relatively content with their staffing levels. The figure has been below the 300,000 level for 76 consecutive weeks, the longest stretch since 1970. That is typically consistent with an improving job market. There was nothing unusual in the figures, and one state, Vermont, had estimated jobless claims, according to the Labor Department.

Average Rises Economists estimates in the Bloomberg survey for weekly jobless claims ranged from 260,000 to 275,000. The previous weeks figure was unrevised at 266,000. The four-week moving average increased to 265,250 last week, from 262,750. Economists will be monitoring the report closely as last week included the 12th of the month, which coincides with the period the Labor Department surveys employers to calculate monthly payroll data. The latest average compares with 257,500

in the similar period in July. The number of people continuing to receive jobless benefits rose by 15,000 to 2.175 million in the week ended Aug. 6, the highest level since April. The unemployment rate among people eligible for benefits was 1.6 percent for a fourth straight week. These data are reported with a one-week lag. Initial jobless claims reflect weekly firings, and a sustained low level of applications has typically coincided with faster job gains. Layoffs may also reflect company- or industry-specific causes, such as cost-cutting or business restructuring, rather than underlying labor market trends. Minutes of the Federal Reserves July meeting, released Wednesday, showed that despite a strong rebound in job creation in June, officials were split on whether a broader slowdown in payroll gains this year meant the labor market was nearing full employment, or whether it was indicative of a weakening economy. Investors see about a 50-50 chance that the central bank

will raise interest rates by the end of the year, based on pricing in federal funds futures.

My position on MBS:

Short term Changes to Neutral.

Long term Stays Short.

Long = I anticipate pricing to improve which leads to lower Rates.

Neutral = Market should stay close to open plus or minimums 25bps.

Short = I anticipate pricing to weaken which leads to higher Rates.

Short term = 1 - 2 days out

Long term = 30+ days out

2016 Economic Forecast (Barry Habib)

Trusted Industry Advisor

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason Gordon in an effort to provide transparency regarding true mortgage rate activity and market guidance to consumers and professionals interested in this activity. All Market Commentary is provided via The Mortgage Coach and/or their RateWatch technology software and/or The TBWS Group.

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